Barclays sets $70 price target on Netflix (NFLX) with Equal Weight rating
What happened
Barclays set a $70 price target on Netflix and rated it Equal Weight in a report on Wednesday (October 7), as surfaced in this week's coverage. With NFLX trading around $71-72, the target implies modest downside and marks one of the most cautious stances on the Street — far below the $94.70 consensus average target (Moderate Buy rating). It joins a steady drip of cautious revisions: Morgan Stanley cut its target to $80 from $83 (keeping Overweight) this week, following July cuts from Jefferies ($110 to $90), Piper Sandler ($115 to $85), President Capital ($134 to $83), Rothschild & Co Redburn ($120 to $93), and Loop Capital ($115 to $95), against Evercore's $110 (Outperform) and Bernstein's Buy initiation on September 28.
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Start your free 14-day trialWho’s affected
- NFLX — directly affected; target implies modest downside from current levels. Sector read-through: streaming/media peers, since Netflix's engagement and ad-tier metrics are the read-through for the subscription-streaming model ahead of its October 20 earnings.
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